Class B Shares definition
Examples of Class B Shares in a sentence
The Company shall not be required to issue fractional Class B shares upon the conversion of the Debenture pursuant to this Article 5.
All Class B shares issued to the Debentureholder upon conversion of the Debenture or any part thereof shall be made pursuant to an exemption from the prospectus requirements available to the Debentureholder or the Company in respect of the transactions contemplated herein under Applicable Securities Laws.
The Company shall, in connection with the execution and delivery of this Debenture and the possible conversion of the Debenture into Class B shares, obtain any and all statutory and regulatory approvals required to effect and complete the same and shall file all notices, reports and other documents required to be filed by or on behalf of the Company pursuant to Applicable Securities Laws in respect thereof, including the rules and regulations of the Exchange.
Any Class B shares owned by or held for the account of the Company shall be deemed not to be outstanding for the purposes of any such computation.
The Company shall at all times have reserved for issuance out of its authorized capital a sufficient number of Class B shares to satisfy its obligations to issue and deliver Class B shares upon the due conversion of the Debenture.